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Saudi Arabia to build $13 billion ‘tourist city’ on Gulf coast

February 25, 2010
Saudi Arabia is to spend upwards of $13 billion on a new 'tourist city' on its Arabian Gulf coast.
Arab News reported that Prince Sultan bin Salman, Chairman of the Saudi Commission for Tourism and Antiquities (SCTA), the first phase of the project will cost $27 million,.
To be built in Al-Oqair, just south of the city of Al-Khobar the project will create 80,000 jobs. The development is just one of a series of tourism megaprojects that Saudi Arabia is developing throughout the Kingdom.
On the Red Sea coast, the Government has earmarked sites for development in Tabuk, Yanbu, Makah, Asir and Jizan provinces.
SCTA officials said that the planned resorts would being a total of 557,000 hotel rooms online, creating 413,000 jobs in the process.
The Saudi Government expects that the Red Sea projects will attract $40 billion in investment, with annual tourist spending estimated at $2.6 billion.
Saudi Arabiaâs tourism revenues could reach $64 billion by 2019, according to SCTA officials.
The Kingdomâs tourism market is currently generating around $14 billion in annual revenues.

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